In an effort to enhance an environmentally-friendly recovery from the COVID-19 oubreak, South Korea unveiled a 48.5 trillion plan to develop the world’s largest wind power plant by 2030.
As Reuters news agency reported, the initiative is a vital component of President Moon Jae-in’s Green New Deal, initiated last year to curb reliance on fossil fuels in Asia’s fourth-largest economy and make it carbon neutral by 2050.
In fact, Mr Moon announced the region’s plan during a signing ceremony in the south-western coastal town of Sinan for the plant.
“With this project, we are accelerating the eco-friendly energy transition and moving more vigorously towards carbon neutrality”.
…Mr Moon noted at the event.
Utility and engineering companies also attended, including Korea Electric Power, SK E&S, Hanwha Engineering & Construction, Doosan Heavy Industries & Construction, CS Wind and Samkang M&T.
The companies will provide 47.6 trillion won of the required funding and the government, the remaining 0.9 trillion won, Mr Moon’s office Blue House said.
As explained, the plant which will have a maximum capacity of 8.2 gigawatts, would provide up to 5,600 jobs and help achieve a goal to boost the country’s wind power capacity to 16.5 GW by 2030, from the current 1.67 GW.
The envisaged 8.2 GW amounts to the energy produced by six nuclear reactors, or the effects of planting 71 million pine trees, officials said.
Concluding, to remind, until now the world’s largest offshore wind farm is Hornsea 1 in Britain, which has 1.12 GW capacity.